Tag: stock market

TaylorMade Golf Company has announced a multi-year contract with golf superstar Tiger Woods. According to TaylorMade, Woods will play with the brand’s driver, fairway woods, irons and wedges, with specific models to be determined. Woods will also have a role in the design and development of a new iron model. Woods, who turned pro in 1996 and has won 14 major championships, has had a long relationship with Nike Inc. . Nike announced in August that it would stop selling golf equipment like clubs and balls.

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From:: Stock Market News

U.S. stocks opened slightly higher Thursday, with the main indexes trading in record territory as investors continued to bet on fiscal stimulus promised by the Trump administration and sifted through another heavy round of earnings. The S&P 500 opened flat at 2,298. The Nasdaq Composite began the session up 9 points, or 0.2% higher at 5,665. The Dow Jones Industrial Average added 18 points or 0.1%, to 20,084 at the open.

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Verizon Communications Inc. is exploring the possibility of combining with Charter Communications Inc. , according to a report from The Wall Street Journal. Shares of Charter, popped as much as 10% after the news broke. Verizon has been shopping for a company to help build its media and content businesses, as the competitive environment in the industry intensifies. AT&T Inc. has proposed an $85.4 billion acquisition of Time Warner Inc.. Verizon has been in negotiations with Yahoo! Inc. to acquire the company’s core internet business, though, talks have been complicated by the revelation of email hacks at Yahoo. Charter Communications last year bought Time Warner Cable. Shares of Verizon are up 3% in the trailing 12-month period, while Charter shares have gained nearly 63% and the S&P 500 Index is up nearly 21% during the same time frame.

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Shares of MoneyGram International Inc. soared 10% in premarket trade Thursday, after the provider of money transfer services agreed to be acquired by Ant Financial Services Group, which is an affiliate of China-based Alibaba Group Holding Ltd. for $880 million. Under terms of the deal, Ant Financial will pay $13.25 for each MoneyGram share outstanding, which is 14% above Wednesday’s closing price of $11.88. The deal connects MoneyGram’s network of 2.4 billion bank and mobile accounts with Ant Financial’s users. “The combination of Ant Financial and MoneyGram will provide greater access, security and simplicity for people around the world to remit funds, especially in major economies such as the United States, China, India, Mexico and the Philippines,” said Ant Financial Chief Executive Eric Jing. MoneyGram’s stock has more than doubled over the past 12 months, while Alibaba shares have run up 49% and the S&P 500 has climbed 21%.

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Shares of Qualcomm Inc. plunged 4% in premarket trade Thursday after analysts reacted to the chipmaker’s weak quarterly outlook provided late Wednesday, in which it blamed legal costs associated with anti-monopoly lawsuits filed against it by Apple Inc. and the U.S. FTC. Nomura cut its 12-month stock target on Qualcomm t $65 from $70 and reiterated a neutral rating, saying earnings estimates are at risk despite management denying wrongdoing related to Apple, whose mobile devices comprise roughly 20% of Qualcomm’s revenue. SIG Susquehanna lowered its price target to $70 from $82. The average rating on the stock is the equivalent to buy, while the average price target is $71.19. Its shares have declined by 16.5% in the past three months, versus a 7.5% improvement for the S&P 500 .

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Sequential Brands Group Inc. said Thursday that it will launch a line of men’s and women’s footwear and intimate apparel in 2017 under the Joe’s lifestyle brand. Joe’s, which is known for the Joe’s Jeans label, is available in department stores like Nordstrom Inc. and Neiman Marcus, and in 18 boutiques across the U.S. The footwear collections will be created in partnership with ACI International and will be available in the spring. The intimate collections will include underwear, sleepwear and loungewear created with ESP Group Ltd. and will be available in the fall. Sequential Brands shares are unchanged in premarket trading, and down 28.6% for the past year. The S&P 500 index is up 20.7% for the last 12 months.

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Lions Gate Entertainment Corp. said on Thursday it’s investing in a new UK-based TV production company Potboiler Television. The production company is a new venture from film and TV producers Andrea Calderwood (“The Last King of Scotland”) and Gail Egan (“The Constant Gardener”) and is positioned as a high-end TV drama company, according to a news release. Lions Gate has recently been praised for its big-screen successes, nabbing 26 Oscar nominations thanks notably to best-picture favorite “La La Land.” But the media and entertainment company has been investing in and has also garnered success from its TV business. Lions Gate recently closed a deal to acquire cable TV network Starz and has entered distribution partnerships with overseas distributors, such as China streaming company iQIYI. This most recent TV investment with Potboiler gives Lions Gate a first-look deal for global distribution of Potboiler’s TV content. Lions Gate’s current slate encompasses close to 90 TV series on 40 different U.S. networks and include “Orange is the New Black” on Netflix Inc., “Nashville” on Walt Disney Co.’s ABC and “Casual” on Hulu. Shares of Lions Gate are up nearly 7% in the year to date, while the S&P 500 Index is up nearly 3%.

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Royal Caribbean Cruises Ltd. shares rose 1.7% in Thursday premarket trading after the company reported earnings that beat consensus and issued guidance above estimates. Net income was $261.1 million, or $1.21 per share, down from $206.8 million, or 94 cents per share, for the same period last year. Adjusted EPS was $1.23, beating the FactSet consensus of $1.21. Revenue for the quarter was $1.91 billion, up from $1.90 billion last year, but missing the $1.96 billion FactSet consensus. Passenger ticket revenue was $1.35 billion, down from $1.37 billion last year. Royal Caribbean expects first-quarter EPS to be about 90 cents, ahead of the 71-cent FactSet estimate, and full-year 2017 EPS in the range of $6.90 to $7.10, above the FactSet consensus of $6.80. “The company’s booked position for 2017 is better than last year’s record high, and at higher rates,” the company said in its release. Royal Caribbean shares are up 25.4% for the last three months, and up 3.7% for the past year. The S&P 500 index is up 20.7% for the last year.

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Pfizer Inc. said early Thursday that its phase 2 clinical trial for a C. difficile vaccine had positive results. The bacterium, which causes infectious diarrhea, typically affects older adults in medical facilities and can be life-threatening and difficult to treat. The vaccine was studied for safety, tolerability and immune response in more than 850 healthy older adults, and will proceed to a late-stage trial in the first half of this year, Pfizer said. The vaccine was designated for a fast track by the Food and Drug Administration in 2014, a label intended to facilitate innovation in difficult-to-treat areas. Pfizer shares were up 0.4% in pre-market trade Thursday. Shares have fallen 3.4% over the last three months, compared with a 7.4% rise in the S&P 500 .

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JetBlue Airways Corp. shares rose 1.1% in Thursday premarket trading after the airline reported fourth-quarter earnings and revenue that beat estimates. Net income was $172.0 million, or 50 cents per share, down from $190.0 million, or 56 cents per share, for the same period last year. The FactSet consensus was 49 cents per share. Revenue was $1.64 billion, up from $1.59 billion last year and meeting the FactSet consensus. Passenger revenue rose to $1.48 billion from $1.44 billion and beat the $1.46 billion FactSet consensus. And revenue passenger miles for the quarter rose 6% year-over-year to 11.2 billion on a capacity increase of 4.5%. For the first quarter, JetBlue sees a capacity increase between 4.5% and 6%. JetBlue shares are up 24.1% for the last three months, but are up 0.9% for the past year. The S&P 500 index is up 20.8% for the last 12 months.

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